Homebuyers Pay £21k More To Be Close To Supermarkets
Construction workers might be extra busy using steel cladding sheets and building close to supermarkets after it was revealed that homebuyers are willing to pay a lot more for these properties.
Lloyds Bank has reported that homes near to big stores are worth an average of £21,500 more than other similar residences, showing people prioritise being close to amenities when it comes to their property search.
Andy Mason, Lloyds Bank mortgages director, said: “This research clearly shows that there is a significant link between the convenience of a local supermarket and house prices.”
Some superstores have a greater effect than others, with homes near Waitrose increasing by as much as £43,571. This is followed by M&S at £40,135 and Sainsbury’s at £32,707.
Value supermarkets are gaining in popularity too, and house prices in areas where there is an Aldi have increased by 20 per cent over the last four years, compared with 16 per cent for the rest of the town. However, having an Aldi nearby is likely to only boost your property value by £2,301, according to the findings.
It reported that the average house price in the UK is £250,025, compared with £271,475 for properties in locations where there are popular supermarkets. This represents a premium of nine per cent for these abodes, rising to 13 per cent for homes close to M&S.
Considering the latest Halifax House Price Index reported an annual change of 1.9 per cent from April 2017 to 2018, homeowners could be tempted to purchase properties close to supermarkets to gain a greater house price growth in the future.